The consolidated financial statements of Bank Audi revealed an annual increase of 6.67% in the profits of Q1 2019, which stood at $121.68M.
According to the bank’s balance sheet, total assets slipped by 1.62% year-to-date to stand at $46.43B. The decline was mainly justified by the persisting tough economic conditions in Lebanon and the region. Similarly, Customer loans fell by 6.27% to $12.34B of which 54% accounted for by entities outside. On the liabilities side, Customers’ deposits contracted by 1.94% y-t-d to settle at $31.07B of which 32% accounted for by entities outside Lebanon, while Shareholders’ equity rose by 2.06% to $3.96B.
Audi Bank’s Financial Highlights in Q1 2018
| In millions of USD | 31-Mar-19 | 31-Dec-18 | YTD |
| Total Assets | 46,436 | 47,201 | -1.62% |
| Net loans and Advances to Customers at Amortized Cost | 12,339 | 13,165 | -6.27% |
| Customers’ Deposits at Amortized Cost | 31,076 | 31,692 | -1.94% |
| Total Shareholders’ Equity | 3,966 | 3,886 | 2.06% |
| Profit for the Period* | 121.68 | 114.07 | 6.67% |
*March 2018
Source: BSE, Bank Audi